Posted on 04/20/2022 8:00:39 PM PDT by millenial4freedom
Billionaire investor William Ackman liquidated a $1.1 billion bet on Netflix on Wednesday, locking in a loss of more than $400 million as the streaming service's stock plunged following news that it lost subscribers for the first time in a decade. Ackman's hedge fund Pershing Square Capital Management made an abrupt U-turn, selling the 3.1 million shares it had bought just three months ago as Netflix' shares tumbled 35% to $226.19.
(Excerpt) Read more at finance.yahoo.com ...
Hey - he is not suffering. He is a billionaire. But it seems like an ill timed sell.
Doesn’t bother me.
Might be smart if share values continue to drop
Yup. He should have waited for the dead cat bounce.
Netflix finances are a bubble. A big write down is probably in the works.
What a screwup he didn’t last very long when the fire got hot serves him right terrible company 🤪
I wonder if the guy did it before or after Elon Musk’s statement that Netflix is suffering from ‘woke disease’.
Just remember. Netflix paid millions to the Obamas to help produce programming. The anti-Midas touch in action.
Every movie Netflix is involved with has 2 guys kissing or in a relationship.
Ackman was the genius who tried to renovate all the JCP stores including removing registers when they were bleeding money. Surprised he still has money with decisions like this.
Netflix is crashing BECAUSE of inflation.
What's the first thing you cut back on when budgets are tight?
You get rid of non-essential things like streaming services.
In fact, all the paid streaming services are going to crash.
If wokeness were to blame, then Netflix would have cratered years ago.
That’s when I cancelled.
This scumbag was talking down the market in March of 2020 all the while waiting to buy on the 23rd at the lowest point and make billions.
Good he gets roasted.
Does he get to write the loss off on his taxes?
If so, the loss is more valuable to him than what he would have made selling at a better price.
Other people’s money
I dumped my Netflix stock after they debuted “Cuties”. It’s lost 55% of its value since.
You are obviously not a long time streamer. You are right that people subscribing to streaming services are becoming more price conscious... Your prediction that all streaming services are going to crash is wrong. Streaming is cheaper than cable and it is getting more and more popular not less popular. Netflix is losing subscribers because of increased competition along with their crappy programming.
Netflix just jacked their prices up at the same time more and more similar services are becoming available for less money. Others are providing programming with less wokeness for the same or less money. A bunch of them are free if you are willing to watch a few commercials... typically far less commercials than network TV. The value of Netflix was based largely on ever increasing subscribers. It suddenly became obvious that this is not going to happen. They cannot compete. As an example Netflix is now $18 a month with tax where we live with their HD package. Starz and Showtime are both offering their commercial free services in HD for less than $5 a month if you buy several months in advance. Hulu almost always has a special for a year for $1 a month for a year for HD TV with commercials and you pay monthly. Tonight we have been watching a Movie that was in theaters 2 months ago for an hour on Hulu and haven't seen one commercial yet. Paramount TV with commercials is $5 a month and they have a similar amount of programming to Netflix. Even Youtube is now showing many movies with commercials for free. Often they claim they are going to have commercials but do not. I use a $20 program to record on demand shows with commercials on my computers and then fast forward through whatever commercials they have when I watch the recordings on my TV.
Netflix, the new Blockbuster!
Netflix was not as woke years ago.
This is like your “optics” assertion w.r.t. Bill Barr.
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